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7 Aug 2013 07:00
7 August 2013
Electronic Data Processing PLC (EDP)
Interim Management Statement
EDP, an IT solution provider to the UK wholesale distribution industry and a supplier of Sales Intelligence software more widely, today publishes an Interim Management Statement covering the period from 1 April 2013 to 6 August 2013.
Material Events and Transactions
On 1 August 2013 the Company paid a special interim dividend of 5p per share returning £627,000 to shareholders. There were no other material events or transactions during the period.
Business Performance
Trading conditions and activity levels remain consistent with those described in our half year statement released on 30 May 2013, with businesses in the sectors we address continuing to face a mixed picture.
Our contracted recurring revenues, which relate principally to on-going software licence fees and hosting charges, remain strong and represent 78% of turnover year to date.
Our strategy over recent years has been to increase the number of customers who receive their software through the Cloud. The proportion of our turnover delivered through our secure Cloud/hosting facility in Milton Keynes is now 46%.
Financial Position
As previously reported we have accepted an offer on our surplus freehold property in Milton Keynes. We expect to report further progress to shareholders on this matter in due course.
We have a strong, debt-free balance sheet with cash balances, following the special interim dividend, of £4.8 million at 6 August 2013.
Outlook
We expect trading conditions for the remainder of the financial year to be consistent with those experienced thus far.
For further information please contact:
Julian Wassell Toby Mountford
Chief Executive Citigate Dewe Rogerson
0114 2622010 020 7638 9571
07710 356611
James Storey
Finance Director
0114 2622010
www.edp.co.uk
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